By InvestAdvocate

Lagos (INVESTADVOCATE)- One of Nigeria’s largest conglomerates, Transnational Corporation of Nigeria Plc (Transcorp) has said its profit after tax (PAT) in the nine-months period ended September 30, 2015 dropped by 29 percent to N5.88 billion from N8.26 billion recorded a year ago.

Similarly, profit before tax (PBT) dipped 26 percent to N7.18 billion from N9.70 billion reported the same period of 2014.

Revenue also depreciated from N30.40 billion to N30.42 billion in the review period of 2015; showing a decline of 3.1 percent, Transcorp said in a filing on Tuesday with the Nigerian Stock Exchange (NSE).

At the close of business on the Nigeria’s local bourse on Wednesday shares of the conglomerate dropped 1.89 percent to N2.08 from N2.12 traded the previous session; showing a loss of 0.04 kobo per share.